Travel + Leisure (NYSE:TNL) Stock Gets Downgrade from Zacks Research

Travel + Leisure (NYSE:TNL) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday, Zacks reports.

A number of other brokerages have also commented on TNL. Morgan Stanley reaffirmed an “overweight” rating and set a $86.00 target price on shares of Travel + Leisure in a research report on Thursday. The Goldman Sachs Group lowered their price target on Travel + Leisure from $87.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, October 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Travel + Leisure in a research note on Monday. Wells Fargo & Company reduced their price objective on Travel + Leisure from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Mizuho lifted their target price on Travel + Leisure from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.25.

Travel + Leisure Trading Down 3.6%

NYSE TNL opened at $64.88 on Thursday. The company’s 50-day moving average price is $66.06 and its 200-day moving average price is $70.03. The stock has a market cap of $3.97 billion, a PE ratio of 17.73, a PEG ratio of 0.69 and a beta of 1.19. Travel + Leisure has a 12 month low of $60.34 and a 12 month high of $81.00.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 EPS for the quarter, hitting the consensus estimate of $1.88. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 EPS. As a group, sell-side analysts forecast that Travel + Leisure will post 7.47 earnings per share for the current year.

Insider Activity

In other news, insider Geoffrey Richards sold 33,744 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $75.65, for a total transaction of $2,552,733.60. Following the transaction, the insider directly owned 1,600 shares in the company, valued at approximately $121,040. This trade represents a 95.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Thomas Michael Duncan sold 20,000 shares of Travel + Leisure stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $74.16, for a total transaction of $1,483,200.00. Following the transaction, the chief accounting officer directly owned 5,307 shares in the company, valued at approximately $393,567.12. The trade was a 79.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 53,944 shares of company stock valued at $4,051,734. Company insiders own 4.01% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TNL. BlackRock Inc. bought a new position in shares of Travel + Leisure during the 2nd quarter worth approximately $543,957,000. Bank of New York Mellon Corp acquired a new stake in Travel + Leisure in the second quarter valued at approximately $55,087,000. Alyeska Investment Group L.P. acquired a new stake in Travel + Leisure in the second quarter valued at approximately $35,994,000. Allianz Asset Management GmbH boosted its stake in Travel + Leisure by 3,677.9% in the second quarter. Allianz Asset Management GmbH now owns 301,478 shares of the company’s stock valued at $23,042,000 after acquiring an additional 293,498 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in Travel + Leisure in the second quarter worth $19,663,000. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Travel + Leisure Company Profile

Travel + Leisure Co (NYSE:TNL) is a hospitality and leisure travel company that operates vacation ownership, exchange, and membership businesses. The company provides travelers with access to resort accommodations, vacation experiences, travel services, and related lifestyle offerings through a portfolio of consumer brands.

Its vacation ownership business includes brands such as Club Wyndham, WorldMark by Wyndham, and Margaritaville Vacation Club, offering members interests in vacation properties and access to resort destinations.